AXIS Capital (NYSE:AXS) Sets New 52-Week High – Here’s Why

Shares of AXIS Capital Holdings Limited (NYSE:AXS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $94.94 and last traded at $94.12, with a volume of 442977 shares trading hands. The stock had previously closed at $91.81.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AXS shares. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Wells Fargo & Company dropped their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, UBS Group raised their price objective on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.88.

AXIS Capital Stock Performance

The firm has a 50-day simple moving average of $89.85 and a two-hundred day simple moving average of $84.59. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. As a group, sell-side analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital’s payout ratio is presently 14.25%.

Insider Buying and Selling

In related news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the completion of the sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AXIS Capital

A number of institutional investors have recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of AXIS Capital during the 3rd quarter worth $40,000. Steward Partners Investment Advisory LLC acquired a new position in AXIS Capital during the 4th quarter worth $53,000. Versant Capital Management Inc boosted its holdings in AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 130 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 285 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of AXIS Capital in the fourth quarter worth about $60,000. Institutional investors own 93.44% of the company’s stock.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.